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Here’s why these 4 ASX shares are jumping higher today

It has been a day to forget for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In early afternoon trade the index is down by 1.5% to 5,360 points thanks to sharp drops in the energy and consumer staples sectors.

Despite this four shares have performed incredibly well and put on strong gains for their respective shareholders. Here’s why:

Lynas Corporation Limited (ASX: LYC) shares are up a whopping 19% to 6.3 cents after the rare earths producer announced proposed amendments to its debt facilities. Not only will the amendments push back the maturity dates, but they will significantly reduce the interest rates on its debt. Overall management expects to save $70 million on interest expenses as a result of these amendments. Considering rare earth prices are forecast to rise in the near future, Lynas shareholders may at last see a turnaround in fortunes.

Nanosonics Ltd. (ASX: NAN) shares have jumped almost 7% to $3.28 following the release of its first quarter update. The infection prevention specialist reported record quarterly sales of $17.8 million, up 18% on the last quarter and up a massive 174% on the prior corresponding period. North America continues to be the driver of growth with the total installed base for its trophon EPR growing to over 9,700 units. Furthermore this was the third consecutive quarter of positive cash flow, with its cash balance growing by $4.8 million to $53.6 million. This is one growth share which I think investors should be taking a good look at.

Pilbara Minerals Ltd (ASX: PLS) shares are up 6% to 52.5 cents after the lithium miner announced that it had resolved its dispute with Mineral Resources Limited (ASX: MIN) over the sale notice and right of first refusal at its Pilgangoora Project. Management has issued $50 million in Pilbara shares to Mineral Resources in return for the right of first refusal and any royalties being permanently relinquished. Pilbara believes this makes the project more financially robust and sustainable. Great news for Pilbara shareholders.

Saracen Mineral Holdings Limited (ASX: SAR) shares are higher by 3% to $1.22 after the gold price closed in on a three-week high. According to CNBC prices have risen thanks to rising physical demand ahead of India’s festival season. At the time of writing the spot gold price is fetching approximately US$1,275 an ounce, up around 1.2% from this time last week. How much longer gold can stay at this level, only time will tell. But with the Fed looking likely to raise interest rates imminently, my bet is not too much longer.

Did you miss out on gains today or suffer from the sell off? Don't worry, these fast-growing ASX shares could be next in line to bolt higher. Catch them whilst you can!

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares in Nanosonics. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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